Please help ASAP 30 points
1 answer:
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To set the equation,we can first find how much price would be raised within a year:
=500×(1+7%)
=500×1.07
As the years go by the increase would accumulate,and the equation would be:
Hope it helps!
=500×(1+7%)
=500×1.07
As the years go by the increase would accumulate,and the equation would be:
Hope it helps!
The formula for calculating the simple interest is given by
Here, P = Principle amount
r = annual interest rate in decimal
t = time in years.
Now, if we invest for months or week then in order to find the simple interest, we must convert the units in years.
Therefore, d is the correct option.
d) Interest rates are annual, so you must convert the units into years.